Luis Caputo

Luis Andrés Caputo
President of the Central Bank of Argentina
In commission[1]
In office
14 June 2018 – 25 September 2018
Preceded by Federico Sturzenegger
Succeeded by Guido Sandleris
Minister of Public Finances
In office
10 January 2017 – 14 June 2018 [2]
President Mauricio Macri
Preceded by Alfonso Prat-Gay
Personal details
Born (1965-04-21) 21 April 1965
Buenos Aires, Argentina
Political party Republican Proposal
Other political
affiliations		 Cambiemos (2015–present)
Alma mater University of Buenos Aires

Luis Andrés Caputo (born 21 April 1965) is an Argentine economist, named at the end of 2016 as Minister of Public Finances of Argentina in the government of President Mauricio Macri.[3] He was president of the Central Bank of Argentina from June to September 2018.[4]

Early life and education

Caputo completed his primary and secondary studies at the catholic and bilingual Cardinal Newman College in San Isidro, Buenos Aires.[5] He graduated with a degree in Economics from the University of Buenos Aires. He has been Professor of Economics and Finance in the postgraduate course of the Pontifical Catholic University of Argentina. His cousin, Nicolás Caputo, is a construction industry entrepreneur close to Mauricio Macri.[6]

Caputo served as chief of trading for Latin America at JP Morgan between 1994 and 1998, and he held the same position for Eastern Europe and Latin America at Deutsche Bank between 1998 and 2003. From that year until 2008 he was president of the Argentine branch of Deutsche Bank. He has also been director of an electric distribution company and an administrator of common funds of investment created by him.

Political career

In December 2015 Caputo assumed the position of Secretary of Finances of the Macri government. During his tenure he played a key role in the negotiation with the hedge funds, where Argentina agreed to pay 9.352 million US dollars, thus reopening the country's debt cycle.[6][5] With a declared equity of 55.75 million pesos at the time of his appointment , he was the second richest national government member.

On 26 December 2016, after the dismissal of Alfonso Prat-Gay by President Macri, the Ministry of Finance and Public Finance was split in two, with Caputo being appointed Minister of Public Finance from January 2017 to June 2018, when he assumed the presidency of the Central Bank.[7]

Just three months after moving to the Central Bank, Caputo resigned and cited "personal issues" as the reason for his departure; he was immediately replaced by Guido Sandleris.[8]

Paradise Papers

On 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that Caputo have managed at least two offshore wealth funds.[9] Neither the Cayman Islands–based Alto Global Fund nor its Miami-based parent company, Noctua Partners LLC, was listed in Caputo's financial disclosure statement, a statement that all public officials and candidates for office are required to make.[9]mHe told Argentine members of the ICIJ team that "it was an investment fund for friends and family."[9]

The funds, opened in 2009 and with over $100 million under management, remained under Caputo's management until December 2015, when Macri named him Finance Secretary, a post upgraded to Finance Minister in January 2017.[9]

Other activities

References

  1. ↑ Until approval of the Senate
  2. ↑ Editorial, Reuters. "UPDATE 1-Argentina's finance minister named head of central bank".
  3. ↑ "Le pidieron la renuncia a Alfonso Prat-Gay: dividen el ministerio y asumen Nicolás Dujovne y Luis Caputo". Clarín. December 26, 2016.
  4. ↑ Lewis, Jeffrey T.; Dube, Ryan (2018-09-25). "Argentina's Central Bank President Resigns". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-09-26.
  5. 1 2 "Luis Caputo, el millonario amigo de los buitres - Un hombre del JP Morgan".
  6. 1 2 Clarín.com. "Quién es Luis Caputo, el hombre que arregló con los buitres".
  7. ↑ "Dujovne renunció al Senado y cerró su consultora".
  8. ↑ Daniel Cancel, Ignacio Olivera Doll and Andres R Martinez (September 25, 2018), Argentine Central Bank Head Resigns Three Months Into Job Bloomberg News.
  9. 1 2 3 4 "Paradise Papers salpicó al Gobierno de Macri: el ministro Luis Caputo manejó inversiones en Islas Caimán". Peril. 5 November 2017.
  10. ↑ Board of Governors Central American Bank for Economic Integration (CABEI).
  11. ↑ Board of Governors Multilateral Investment Guarantee Agency (MIGA), World Bank Group.
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